Exam 9: Unemployment and Inflation

Table 9-9 -Refer to Table 9-9.Suppose that the data in the table above reflect the price levels in the economy.Given that data,we can say that the cost of living rose by ________ between 2015 and 2016?

Most of the unemployment that occurred during the Great Depression was

If you have trouble finding a job because of a slowdown in the overall economy,we would say that you are

Jack was unemployed two weeks ago but just started a new job.As a result of this increase in the number of employed workers,which of the following occurred?

Inflation that is ________ than what is expected benefits ________ and hurts ________.

Which of the following statements is true about the U.S.economy?

Imagine that you borrow $1,000 for one year and at the end of the year you repay the $1,000 plus $100 of interest.If the inflation rate was 7%,what was the real interest rate you paid?

Efficiency wages cause unemployment because

Table 9-17 -Refer to Table 9-17.Looking at the table above,real average hourly earnings between 2015 and 2016 changed by

The producer price index measures the prices that firms

The unemployment rate is an important economic statistic that can tell us about the health of the economy.If the unemployment rate turns out to be high or higher than anticipated,we would expect

Table 9-6 -Refer to Table 9-6.Consider the following values of the consumer price index for 1996,1997,and 1998: The inflation rate for 1997 was equal to

Discuss the likely impact of each of the following on the unemployment rate: a.The length of time workers are eligible to receive unemployment insurance payments is cut in half. b.The government passes a law making labor unions illegal. c.The minimum wage is raised by 50 percent. d.The government funds an Internet site where companies can post job openings at no charge.

With the exception of during recessions,workers in Canada are eligible for unemployment benefits for about twice as long a period of time as workers in the United States.As a result,

The CPI in 2010 was 218,while the CPI in 1980 was 82.If you had $5,000 in 1980,its equivalent purchasing power in 2008 would be $10,850.

Assume the average annual CPI values for 2015 and 2016 were 207.3 and 215.3,respectively.What was the percent increase in the CPI between these two years?

The real wage equals the nominal wage ________ the CPI,all times 100.

If your nominal wage rises faster than the price level,we can say your real wage has ________ and the purchasing power of your income has ________.

If the federal government implements programs so that the unemployed are more quickly matched with jobs,then

Counting part-time workers who are looking for full-time work as employed overstates the degree of joblessness in the economy.